November 19, 2003



Vietnam Fisheries Industry Eager For Shipment Worth $470 Million To Reach Export Target


Vietnam's fisheries industry officials gathered in Hanoi late last week to find ways to ship around $470 million fisheries to meet their export target of $2.3 billion this year as the world seafood markets were threatening the industry's in the rest of the year, said Fisheries Minister Ta Quang Ngoc.


"This is the only goal that the industry must make every effort to reach," Ngoc said.


Vietnamese exporters have ventured into 75 countries and territories worldwide. However the turnover fetched from the new markets was not enough to compensate for the slide in trade with its traditional partners. "Despite minor increases in the American, European and Japanese markets, there was a sharp decline of up to $157.7 million in the Chinese mainland, Taiwan and Hong Kong markets this year," Ngoc said.


Ngoc also mentioned the looming problems in the US market as American shrimp farmers and producers are planning an anti-dumping lawsuit on December this year to sue against 12 Asian and African shrimp exporters including Vietnam.


"Vietnamese exports of tra and basa fish to the US are down 33% on-year in the first ten months while the industry shipped only around $180 million each month, which is not enough to meet the target," said Ngoc.


The Ministry of Fisheries would take measures to instruct seafood exporters to capitalize on its most promising markets to make use of all the seafood having been stockpiled, as well as offer high incentives to exporters to boost exports.


In addition, it would supervise the safety and quality of its seafood exports and watches the global market closely to update information and take practical measures to manage seafood exports.


The fisheries sector targets $2.6 billion exports in 2004. Vietnam posted total seafood export value to $1.85 billion in the first ten months of this year, up 11% on-year.